It often occurs that people who use credit cards do not know their credit limit, or even if they do know their credit limit they may not know at any given moment how close their current balance on their credit card is to their limit or if they have gone over their limit. This often results in extra fees for going over their credit limit and overuse of the credit card. It may also be difficult for credit card users to control spending without a constant reminder of what their credit balance is. This may result in defaults on the credit card, bankruptcy and a bad credit history for the credit card holder.
In this regard, there is a need for systems and methods that overcome shortcomings of the prior art.